Muscat: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, in step with the bank’s vision ‘To serve you better, everyday’ has announced the addition of the Central Bank of Oman’s Mobile Payments System to its mBanking and Meethaq Wallet apps. The state-of-the-art Mobile Payments System promises interoperability and unified switching and clearing services between various mobile banking systems operated by different banks in the Sultanate thereby promoting enhanced efficiency and security of mobile payments.
Meethaq’s mBanking and Wallet apps will utilise the Mobile Payments System to enable customers to transfer or request money to others using the following modes. For person to person transfers, money can be sent or collected from the recipient’s default account or wallet. ‘Send money’ can be initiated by using mobile number, Alias or by QR code scanning and ‘collect money’ can be initiated using recipient Alias/Mobile Number. Both the sender and recipient need to register on the Mobile Payments System.
Meethaq customers have the facility to register on Mobile Payments System via the mBanking app or the Wallet. Funds can be transferred to both Meethaq and non-Meethaq customers’ bank accounts and wallets by using their Mobile Payments System registered mobile number/alias/QR code. The real time services are executed instantly and are available 24/7.
The Mobile Payments System also facilitates the initiation of merchant payment requests through the ‘Scan & Pay’ option. Merchant payments can be initiated from customers mbanking or wallet to merchants by scanning a static or dynamic QR code and the merchant can also request money from a customer using Mobile Payments System registered mobile number / Alias / QR code This mode of operation is expected to greatly benefit the retail sector in the country.
Meethaq is on a constant mission to add more features to its innovative and advanced digital payment channels and works under the guidance of the banking regulator in implementing all the measures that they have taken to align the banking sector with the government’s ambitious eGovernment project. In conformity with international standards, the mobile banking app provides security and convenience for mobile phone transactions and reflects the bank’s commitment to implement cutting-edge financial infrastructure in the country that will benefit all.
The Mobile Payments System platform is all set to emerge as a convenient electronic payment tool for cash transactions in Oman as Meethaq remains focused on helping its customers make a smooth transition towards efficient technology-based processes. Over the years, Meethaq has leveraged digital technology to offer secure and convenient payment channels in Oman so as to provide banking convenience for all its customers.